Graco (NYSE:GGG) had its target price hoisted by equities research analysts at B. Riley from $47.00 to $50.00 in a research report issued to clients and investors on Tuesday, January 30th, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. B. Riley’s target price indicates a potential upside of 18.37% from the company’s previous close. B. Riley also issued estimates for Graco’s Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.68 EPS and FY2019 earnings at $1.79 EPS.
A number of other equities analysts also recently commented on the stock. Deutsche Bank raised shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, January 23rd. Zacks Investment Research raised shares of Graco from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada reissued a “hold” rating and issued a $49.00 price objective on shares of Graco in a research note on Thursday, January 4th. Oppenheimer reissued a “hold” rating on shares of Graco in a research note on Thursday, December 28th. Finally, Robert W. Baird reissued a “hold” rating and issued a $47.67 price objective on shares of Graco in a research note on Friday, December 15th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Graco currently has a consensus rating of “Hold” and a consensus target price of $47.33.
Shares of Graco (GGG) opened at $42.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 2.70. Graco has a 12 month low of $29.70 and a 12 month high of $49.69. The firm has a market cap of $7,069.01, a P/E ratio of 29.06, a PEG ratio of 2.24 and a beta of 1.15.
Graco (NYSE:GGG) last issued its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $374.90 million during the quarter, compared to the consensus estimate of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $1.00 EPS. sell-side analysts expect that Graco will post 1.78 EPS for the current fiscal year.
In other Graco news, VP Caroline M. Chambers sold 9,939 shares of Graco stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.03, for a total value of $417,736.17. Following the transaction, the vice president now directly owns 30,615 shares of the company’s stock, valued at $1,286,748.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Mark D. Eberlein sold 5,902 shares of Graco stock in a transaction on Friday, November 17th. The stock was sold at an average price of $130.26, for a total transaction of $768,794.52. The disclosure for this sale can be found here. Insiders sold 107,591 shares of company stock worth $8,730,528 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valley National Advisers Inc. grew its holdings in shares of Graco by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 2,385 shares of the industrial products company’s stock valued at $108,000 after buying an additional 1,590 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Graco by 53.5% during the fourth quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock valued at $144,000 after buying an additional 1,106 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Graco by 286.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,363 shares of the industrial products company’s stock valued at $152,000 after buying an additional 2,493 shares during the last quarter. Hexavest Inc. grew its holdings in shares of Graco by 200.0% during the fourth quarter. Hexavest Inc. now owns 4,200 shares of the industrial products company’s stock valued at $190,000 after buying an additional 2,800 shares during the last quarter. Finally, Fiduciary Trust Co. purchased a new stake in shares of Graco during the fourth quarter valued at $201,000. 36.93% of the stock is currently owned by institutional investors and hedge funds.
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Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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